# 3ABCDEFGHIJKLMNOPQRSTUVWYZ

OIS

Overnight index swaps are interest rate swaps where an agreed index of an overnight floating rate, such as SONIA or EONIA or the Fed funds rate, is exchanged for a fixed rate for an agreed period. They are often used by banks to hedge against fluctuations in official interest rates set by central banks.

See also: http://www.acisuisse.ch/docs/dokumente/OIS_Note_CSFB_Zurich.pdf, LIBOR-OIS Spread